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Nanaimo Honda

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Benefits of Leasing and Financing

The Benefits of Leasing and Financing a New Honda from Nanaimo Honda

One of the most common questions that we get asked at Nanaimo Honda is "What's the best way to buy my new Honda, Lease or Finance?" So we decided to point out the major benefits for both options, this way you can start to think about what is best for you and your next new Honda vehicle purchase.

The Benefits of Financing a New Honda at Nanaimo Honda

If you typically keep your vehicle for 7 to 10 years, then traditional financing may be your best option

Fixed Low Interest Rates

Payments can be tailored to me your needs and lifestyle

You can pay off or down the loan at any time without a penalty

Installment loans reflect higher on the credit bureau than a Line of Credit

Avoid penalties from cashing out investments

Frees up cash for emergencies, investments, or paying down your mortgage

Establishes a credit rating

Opportunity to insure investment

No mileage limits or worries of excess wear and tear of the vehicle

Ability to customize vehicle with accessories .You can alter the interior or exterior to suit your taste (though your choices may affect the resale value)

Benefits of Leasing a New Honda from Nanaimo Honda

For more information on whether it is better to lease or finance your next Honda from Nanaimo Honda, please don't hesitate to contact our Finance Manager Team at any time.

Or if you have made up you mind and would like to get Pre-Approved for your next vehicle Lease or Purchase you can fill out our credit form and get started to day. Get Pre-Approved Now

In a lease, you contract to enjoy a new vehicle for a specified period of time

Less cash up front - One of the biggest advantages of a lease is that it does not usually require a substantial down payment

A new car more often - A short-term lease makes it easy to drive a new car more frequently. Plus, if life changes demand a larger or smaller car in a few years, a lease can make it easier to plan and adapt

Lower Monthly Payments than Financing a Vehicle

GAP - Guaranteed Asset Protection in the event of a total vehicle loss

Pay for only the "Usage" of the vehicle and not Finance the entire vehicle cost and taxes

Can be viewed has having an extended test drive

You can buy out the lease at any time without incurring a penalty

Payments can be tailored to fit your budget

Take advantage of potential tax benefits, depending on the nature of your business

Interest rates are fixed

Guaranteed Future Value - You don't have to worry about resale value. If your car depreciates more (due to an extensive accident or other circumstances) than the estimated residual value in your lease contract at full term, you can turn it in at the end of your lease term. But if it's worth more, you can purchase it

Due to the lower monthly lease payments you may be able to afford a more equipped vehicle